Some were left puzzled at the description of TerraUSD, better known as UST and its affiliatedOne person lodged a police report, though TODAY understands that the police are not investigating the matter.
Luna and TerraUSD are tokens that run on the Terra network, a blockchain-based project developed by start-up Terraform Labs, which is registered in Singapore. He said:"But, it really depends on what their contractual rights are. It really depends on what was represented in the White Paper, whether there are any expressly selected choice of dispute resolution options there."
However, there may be little recourse for these investors since the terms and conditions for the sale of a coin have been set out to protect the creators and founders, said Mr Koh Chia Ling, managing director of law practice Osborne Clarke. However, in general, these stablecoins"are not subject to any statutory protection for their trading of stablecoins ," he said.
"The trouble is that too many investors simply do not understand the exact nature of the trading strategies, or the underlying technology, or even the high-risk nature of the investments."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto-loving South Koreans bet on Luna rising from ashes, worrying regulatorSEOUL: Reckoning they have little to lose with prices so ridiculously low, South Korean speculators in recent days have piled into Luna, a cryptocurrency that lost 99.99 per cent of its value last week after its paired stablecoin TerraUSD collapsed. Both tokens are affiliated with Terra, a blockchain platf
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Crypto-loving South Koreans bet on Luna rising from ashes, worrying regulatorSEOUL: Reckoning they have little to lose with prices so ridiculously low, South Korean speculators in recent days have piled into Luna, a cryptocurrency that lost 99.99 per cent of its value last week after its paired stablecoin TerraUSD collapsed. Both tokens are affiliated with Terra, a blockchain platf
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Crypto-loving South Koreans bet on Luna rising from ashes, worrying regulatorSEOUL — Reckoning they have little to lose with prices so ridiculously low, South Korean speculators in recent days have piled into Luna, a cryptocurrency that lost 99.99 per cent of its value last week after its paired stablecoin TerraUSD collapsed. Severe case of stockholm syndrome.
Source: TODAYonline - 🏆 1. / 99 Read more »
Crypto-loving South Koreans bet on Luna rising from ashes, worrying regulatorSEOUL — Reckoning they have little to lose with prices so ridiculously low, South Korean speculators in recent days have piled into Luna, a cryptocurrency that lost 99.99 per cent of its value last week after its paired stablecoin TerraUSD collapsed. Both tokens are affiliated with Terra, a blockchain platform co-founded by Korean developer Do Kwon and, according to blockchain...
Source: asiaonecom - 🏆 10. / 59 Read more »
How a trash-talking crypto bro caused a S$56 billion crashNEW YORK — Mr Do Kwon, a trash-talking entrepreneur from South Korea, called the cryptocurrency he created in 2018 “my greatest invention.” In countless tweets and interviews, he trumpeted the world-changing potential of the currency, Luna, rallying a band of investors and supporters he proudly referred to as
Source: TODAYonline - 🏆 1. / 99 Read more »
Analysis-Crypto crash leaves El Salvador with no easy exit from worsening crisisSAN SALVADOR/NEW YORK : El Salvador's big bet on bitcoin, which the Central American nation has been buying since September, has soured in recent weeks as a cryptocurrency rout shaved over a third of the value of the government's holdings, Reuters calculations show.Under populist President Nayib Bukele, a
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »